Entrust Agreement for Land Acquisition
Party
A:
Shaanxi Ao-xing Pharmaceutical Inc.
Party
B:
Xxxx Xxxx Zhai Office, Qin Du District of Xxxx Xxxx city
Party
A
is an investment project introduced by Qindu district government. According
to
the Num 319th
approval
document, which is issued by government of Xxxx Xxxx city, it shows that initial
planning investments are 70 million RMB to build GMP workshop. Hereby Party
A
entrusts Party B to in charge of the land acquisition in light of the law of
land administration of PRC, Shaanxi province execution detailed rules and
relevant rules of regulation. Party B agrees to provide the service with
following terms.
| 1. |
Location
and Area of acquired land
|
The
land
is located north to Xianhu road, west to Wujia Road and South to Binhe Road
with
total area of 127.18146 mu (1 mu = 666 m2)
| 2. |
Acquisition
costs
|
Party
A
agrees to pay 572.5 RMB/m for the land (0.3816 million RMB per Mu include land
compensation fees, compensation for resettlement, compensation for green corps,
compensation for attachments, fees of supporting measures for city
construction), total costs are 48.54 million RMB.
| 3. |
Payment
terms
|
|
1)
|
Accept
bank account transfer
|
|
2)
|
10%
of total acquisition costs must be paid in one month after the agreement
was signed. By the end of October of 2003, 20% of total costs must
be
paid; 20% must be paid in 2004; in 2005, 20% of total costs must
be paid
and the rest must be paid off in
2006.
|
| 4. |
Obligations
for each party
|
|
1)
|
Party
A must pay off the acquisition costs by folloing the third
term;
|
|
2)
|
Party
B must help Party A to eliminate all factors that impede construction
of
GMP workshop in 6 months after receiving the first payment. Party
B must
guarantee the project’s progress going smoothly and provide a good
investment environment. Party A has to finish construction of bounding
wall in one month after the land transfer from Party
B.
|
| 5. |
Parties
hereto may revise or supplement through negotiation on matters not
mentioned herein.
|
| 6. |
This
agreement is in septuplicate, party A has 5 and party B has
2.
|
| 7. |
The
agreement will come into effective after the day of sign stamping.
|
